Federal debt held by the public has exploded in the Obama Era. The 2008 recession necessitated a policy response, and the Obama Administration's response was to institute a massive stimulus program on top of cratering federal revenues, which ballooned the federal deficit and added a huge amount of federal debt.
The Congressional Budget Office's long-term budget update was released today, and there are important updates from its previous projections relating to recent legislative changes. Guy will have more, but there are a few important things to remember.
Senator Lamar Alexander of Tennessee is bringing an important issue to the forefront of policy debate.
Rep. Paul Ryan, R-Wisc., says he's hopeful Republicans and Democrats can compromise and pass a budget that at least represents a "down payment" on the national debt.
France's budget deficit is currently 3.7% of GDP. Recall that budget deficits exceeding 3% is over treaty limits. With Hollande at the Helm, any rational-thinking person understands the odds Hollande reduces the French budget deficit to zero by 2017 is roughly 0%.
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